Shares of Tata Motors shift gear on firm sales volumes

New Delhi: Shares of Tata Motors rose on Tuesday in an otherwise subdued broader market.

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The shares of the automaker gained 6 percent in the past three trading days as the company reported healthy sales volumes — for both passenger and electric vehicles — in March and the entire FY22 fiscal.

It reported the highest ever annual sales of its passenger and electric vehicles at 370,372 units in FY22, which was 67 percent more than the off-take in FY21.

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In March, Tata Motors’ total domestic sales volume grew 30 percent year-on-year to 86,718 units as against 66,462 units reported in the same month last year.

Tata Motors set several new records in a challenging year disrupted by two waves of Covid, semiconductor crisis and a steep increase in commodity prices globally.

On Tuesday, the shares of the automaker settled at Rs 457.3 per share, up 2.4 percent. However, since the start of the calendar year 2022, it declined 8 percent.

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